How To Use The New Three Board Market To Solve SMEs Financing Dilemma Effectively

In Chinese economic system, small and medium enterprises, SMEs, are very important. The development of SMEs can promote the employment of total society and the progress of the technology. SMEs of China contribute more than 65% of Chinese GDP, more than 50% of tax revenue, more than 75% of employment.Since Chinese economic reform, the SMEs in Weifang City get great development. Weifang city's SMEs number is more than 52000, accounting for more than 95% of the total enterprises. In the top ten industries such as Marine chemical industry, machinery industry, SMEs get a large market share and play the more and more important role in the economic development.In the process of development of SMEs, the financing difficult is evident. The financing problem has become the bottleneck for the further development of SMEs. The financing problem has become an obstacle to restrict the development of SMEs. In order to promote the development of SMEs, the government continuously publish relevant policy, hoping to solve SMEs financing difficult problem, helping SMEs growth.Until the new three board expansion to the nation, and along with the market maker system, the establishment of layered systems of enterprises, SMEs financing and development problems just got obvious improvement. As an important component of the multi-level capital market, the new three board low threshold, less cost, procedure is simple, to break through the traditional SMEs financing obstacles at the same time, become more suitable for SMEs financing financing platform.But due to some reasons, SMEs financing difficult problem has not been solved effectively. Subsequently, "new three board" expanded to all the country, the market maker system and enterprise classification system are carried out. After the construction of these systems, the SMEs financing and development problems just got obvious improvement. At the same time, it can break through the traditional SMEs financing obstacles then become more suitable for SMEs financing platform.By listing on the new three board, SMEs can achieve the business goal such as perfecting corporate governance structure, expanding enterprise publicity, attracting and retaining talent. What's more, the SMEs can carry out private equity placements business, equity pledge business and transfer board listing business, so that the SMEs get development funds. How to effectively solve the SMEs financing difficulties by using new three board market is the key point of this thesis.This thesis is based on the great change of Chinese capital market, I reference lots of results of other researchers and read relevant literature when do the research. In addition, by accomplishing contracting and undertaking the new three board projects we can understand the current financing difficulties of SMEs and summarize them. This thesis has pointed out that the traditional financing way can not meet the financing demand of SMEs. This thesis analyzes the present situation and financing situation of SMEs which are listed on the new three board. Besides, this thesis points out that the new three board can meet SMEs's financing demand partly.This thesis analyzes the case using D company which is in Weifang city. Analyzing D company from financing plight, fund demand, financial condition and financing methods and so on, in order to design new three board financing plan. Subsequently evaluating the financing options for finding a successful case of SMEs financing. Finally the thesis draws a conclusion and gives suggestions about new three board development from three aspects, namely enterprise, government and new three board system construction.